Nigeria – Over 142 Public Enterprises Privatized And Reformed In Seven Years

The National Council on Privatisation (NCP) has since inception in 2000 successfully concluded the privatisation and reform of over 142 public enterprises, the Acting President, Professor Yemi Osinbajo, said during the inauguration of the fifth council on privatisation yesterday.

He pointed out that the inauguration of the NCP was a critical step in the process of putting in place part of the institutional framework necessary for the actualisation of the socio-economic agenda of the administration.

The acting president said: “It is also a demonstration of our administration’s commitment to public sector reform and the central role of the National Council on Privatisation (NCP) in this process.

“Even though the public sector has been at the centre stage in the provision of critical infrastructure and services cutting across the whole spectrum of the nation’s life since independence, the emerging importance and centrality of the private sector to the actualization of the economic agenda of the administration cannot be downplayed.”

He said apart from playing a dominant role of generating employment opportunities, the intervention of the private sector enhanced the process of industrialisation, delivered critical infrastructure and services the country.

He added that the role could only be unleashed when government’s role of regulating and creating an enabling environment was robustly undertaken.

“This will in turn offer the private sector the required comfort and assurance to make investments and expect a reasonable return on thereon,” he also said. Read more on this here.